HOBIX vs. HOBEX

Last updated Aug 1, 2026

HOBIX (Holbrook Income Fund Class I) and HOBEX (Holbrook Income Fund) are both mutual funds - HOBIX is a Intermediate Core-Plus Bond fund actively managed by Holbrook, while HOBEX is a Short-Term Bond fund managed by Holbrook. Over the past 5 years, HOBIX returned 4.13%/yr vs 3.63%/yr for HOBEX. Their correlation of 0.87 means they have usually moved in the same direction. HOBIX charges 1.05%/yr vs 1.60%/yr for HOBEX.

Performance

HOBIX vs. HOBEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Holbrook Income Fund Class I (HOBIX) and Holbrook Income Fund (HOBEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOBIX achieves a 2.33% return, which is significantly higher than HOBEX's 1.98% return.

HOBIX

• 1D: 0.00%
• 1M: -0.31%
• 6M: 1.72%
• YTD: 2.33%
• 1Y: 5.00%
• 3Y*: 6.48%
• 5Y*: 4.13%
• 10Y*: —
• ALL TIME*: 4.77%

HOBEX

• 1D: 0.00%
• 1M: -0.31%
• 6M: 1.52%
• YTD: 1.98%
• 1Y: 4.42%
• 3Y*: 5.83%
• 5Y*: 3.63%
• 10Y*: —
• ALL TIME*: 4.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HOBEX Holbrook Income Fund	$0.00	$0.00	$0.00
HOBIX Holbrook Income Fund Class I	$0.00	$0.00	$0.00

HOBIX vs. HOBEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOBIX Holbrook Income Fund Class I	2.33%	7.67%	7.66%	5.65%	-2.91%	6.13%	7.45%	7.70%	1.74%	2.75%
HOBEX Holbrook Income Fund	1.98%	7.23%	7.16%	4.74%	-3.42%	6.25%	6.83%	7.30%	1.26%	2.42%

Correlation

The correlation between HOBIX and HOBEX is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.87

Over the past year, the correlation between HOBIX and HOBEX has dropped to 0.56 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

Return for Risk

HOBIX vs. HOBEX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HOBIX

HOBIX Risk / Return Rank: 99
HOBIX Sharpe Ratio Rank: 97
HOBIX Sortino Ratio Rank: 99
HOBIX Omega Ratio Rank: 99
HOBIX Calmar Ratio Rank: 99
HOBIX Martin Ratio Rank: 99

HOBEX

HOBEX Risk / Return Rank: 98
HOBEX Sharpe Ratio Rank: 94
HOBEX Sortino Ratio Rank: 98
HOBEX Omega Ratio Rank: 98
HOBEX Calmar Ratio Rank: 99
HOBEX Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HOBIX vs. HOBEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Holbrook Income Fund Class I (HOBIX) and Holbrook Income Fund (HOBEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HOBIX	HOBEX	Difference
Sharpe ratio: Return per unit of total volatility	2.79	2.47	+0.32
Sortino ratio: Return per unit of downside risk	8.29	6.29	+2.00
Omega ratio: Gain probability vs. loss probability	3.36	2.16	+1.20
Calmar ratio: Return relative to maximum drawdown	11.19	8.54	+2.65
Martin ratio: Return relative to average drawdown	33.21	27.41	+5.79

HOBIX vs. HOBEX - Sharpe Ratio Comparison

The current HOBIX Sharpe Ratio is 2.79, which is comparable to the HOBEX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of HOBIX and HOBEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HOBIX vs. HOBEX - Drawdown Comparison

The maximum HOBIX drawdown since its inception was -23.52%, roughly equal to the maximum HOBEX drawdown of -23.58%. Use the drawdown chart below to compare losses from any high point for HOBIX and HOBEX.

Drawdown Indicators

	HOBIX	HOBEX	Difference
Max Drawdown Largest peak-to-trough decline	-23.52%	-23.58%	+0.06%
Max Drawdown (1Y) Largest decline over 1 year	-0.51%	-0.61%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-2.77%	-2.74%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-4.16%	-4.57%	+0.41%
Current Drawdown Current decline from peak	-0.41%	-0.41%	0.00%
Average Drawdown Average peak-to-trough decline	-0.96%	-1.05%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.17%	0.19%	-0.02%

Volatility

HOBIX vs. HOBEX - Volatility Comparison

The current volatility for Holbrook Income Fund Class I (HOBIX) is 0.28%, while Holbrook Income Fund (HOBEX) has a volatility of 0.32%. This indicates that HOBIX experiences smaller price fluctuations and is considered to be less risky than HOBEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOBIX	HOBEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.28%	0.32%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	1.33%	1.30%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	2.05%	2.09%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.65%	2.61%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.69%	5.68%	+0.01%

HOBIX vs. HOBEX - Expense Ratio Comparison

HOBIX has a 1.05% expense ratio, which is lower than HOBEX's 1.60% expense ratio.

Dividends

HOBIX vs. HOBEX - Dividend Comparison

HOBIX's dividend yield for the trailing twelve months is around 5.83%, more than HOBEX's 5.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOBEX Holbrook Income Fund	5.37%	5.94%	6.58%	5.05%	4.83%	4.00%	5.44%	3.05%	3.84%	1.69%
HOBIX Holbrook Income Fund Class I	5.83%	6.45%	7.04%	6.35%	5.31%	3.97%	6.30%	3.51%	4.32%	2.12%

Frequently Asked Questions

Can I hold both HOBIX and HOBEX in my portfolio?

HOBIX and HOBEX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOBIX or HOBEX?

HOBEX has higher volatility (0.32%) compared to HOBIX (0.28%). In terms of maximum drawdown, HOBIX dropped -23.52% vs HOBEX's -23.58%.

Which has better risk-adjusted returns?

HOBIX currently has the higher Sharpe Ratio (2.79 vs 2.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.